Appvion Esop

Appvion cutting 200 jobs at Appleton paper plant. See the complete profile on LinkedIn and discover Randy’s connections and jobs at similar companies. Appvion Operations, Inc. Dividend Yield % and dividend growth of a stock is an important factor for income investors. Since 1998, we have been providing development and technical services to organizations looking to customize, integrate, extend, upgrade or support implementations of JD Edwards EnterpriseOne (JDE E1). APPLETON, Wis. Bankruptcy Court for the District of Delaware approved the sale of substantially all of the Company's assets to a group of its lenders led by Franklin Advisers, Inc. A slew of advisers and executives played up the benefits of the ESOP while downplaying its risks, overvaluing the. Appvion headquartered in Appleton, Wisconsin, manufactures specialty coated paper products, including carbonless papers (slightly more than 50% of EBITDA) and thermal papers. For an "employee-owned" company, its non-management employees have very little say or control over the company's financial or operational decisions. , PDC Capital Corporation, Appvion Receivables Funding I LLC, and APVN Holdings LLC, as Sellers (March 19th, 2018). Employee stock ownership plan (ESOP) information from the National Center for Employee Ownership, the leading authority on the subject since 1981. We have no record of any funds or investors increasing their holdings in APPVION HLDG CORP CALL 13JUN2023 within the last quarter. Appvion is the largest producer of thermal paper in the United States and one of the three largest in the world. The purchase price was $208 million. Paper maker Appvion taps adviser to tackle debt burden. Learn about working at Appvion. Kevin Gilligan, Chief Executive Officer of Appvion, said, "We are pleased to receive the Court's approval of the sale of our company to a group of our lenders who have been long-term supporters of. violated the Employee Retirement Income Security Act when it led a Choate Construction Co. Transactional Print: Fertile Ground for Consolidation – October 2017 M&A Activity As the millennial generation increasingly opts for “e-presentment” of monthly invoices and statements, companies that print these documents may find the ground underneath their business shifting as the transactional printing segment rapidly develops in today. • Appvion Receivables Funding I LLC (“Appvion Receivables”), a Delaware limited liability company, is a wholly owned subsidiary of Appvion. On 30 September 2014, a Group subsidiary, NCR, Appvion and Windward Prospects entered into a Funding Agreement with regard to the costs for the clean-up of Fox River. Department of Labor (DOL) and First Bankers Trust Services Inc. Become a member for free. A defined benefit plan is a retirement income plan provided and funded by employers. The Appvion pension plans were taken over by a federal agency that pays basic pension benefits to workers and retirees. View Jean-Marc SEALELLI’S profile on LinkedIn, the world's largest professional community. Appvion are using their work in microencapsulation to change the way people interact with all kinds of products from fabric softeners to building and construction materials. We represented Encapsys LLC in its $208 million acquisition of the Encapsys microencapsulation division of Appvion, Inc. Compliance regulations, increased demands for cost reduction, and enterprise risk are all things that stand in the way of a company from reaching that optimal growth. Appvion’s ESOP is different from a typical ESOP because it included employee contributions. All content is posted anonymously by employees working at Appvion. ESOP companies go bankrupt much less often than non-ESOP companies, - unfortunately, Appvion is not one of them. Through the ESOP, unionized hourly employees as well as salaried personnel purchased Appvion in 2001 and continued to buy its stock for nearly 16 years, until the company filed its bankruptcy case. surveillance and around the clock security coverage. (the “Company”) today announced that it has received approval from the United States Bankruptcy Court for the District of Delaware of all of the first day motions related to its Chapter 11 filing. November 30, 2019. 's shares outstanding for the quarter that ended in. According to the Post Crescent, a USA Today newspaper in Wisconsin, an internal letter to Appvion employees noted that the shares in the ESOP would likely not have any value after the asset sale. Before retiring from full-time corporate work, Tom acted as Senior VP / Chief Financial Officer for Chase, Corporate Controller for Meredith Corporation and CFO of Appvion. Employees had voted in 2001 to transfer $107 million from 401(k) plans into the ESOP to form a. as project companies and owns 100% equity interest of the Debtors. APPLETON, Wis. , Appvion, Inc. Retirement Savings and Employee. (6469), Paperweight Development Corp. no love at appvion Stephen Levine November 17, 2017 Appvion, a 100% employee-owned, Wisconsin-based, producer of specialty coated papers (thermal, carbonless, security, inkjet, digital specialty, and colored papers) has announced that it will be laying off approximately 200 employees as part of its Chapter-11 bankruptcy restructuring plan. Restructuring & Insolvency Private Equity Corporate Healthcare Capital University Law School, JD, 1993 Miami University, BS, 1990 Pennsylvania U. Roaring Spring was established around the Big Spring in Morrison's Cove, a clean and dependable water source vital to the operation of a paper mill. His loss was about $80,000, he said, if the stock is valued at the low point of $6. Appvion, Inc. I have had some past experiences with ESOPs – Appvion is an ESOP, for example – and I have come to really value that business model. Appvion filed for bankruptcy and was sold to a group of lenders earlier this year. using our online tools. Description. View Randy Greenlaw’s profile on LinkedIn, the world's largest professional community. Retirement Savings and Employee Stock Ownership Plan (the “KSOP”), or January 1, 2015, in the case of any other Plan participants. Appvion, Inc. Aquilex Holdings LLC Aquion, Inc. 02 TPY SO x resulting from the combustion of 270 gallons of transformer oil in the No. scopesupplychain. His loss was about $80,000, he said, if the stock is valued at the. The company plans to delever its balance sheet and is seeking approval of a partially rolled-up USD 325. Former Appvion executives and advisers have been accused in a lawsuit of cherry-picking financial data that inflated the value of the paper maker's now-worthless employee stock plan as the. 28 said the union strongly supports a lawsuit filed on behalf of participants in the Appvion Employee Stock Ownership Plan (ESOP) to recover the value of their investments -- lost when the company was liquidated in bankruptcy court earlier this year. The Chamber publishes a bi-annual print magazine written for business, by business, about business. 1: 175742: 3: 302 CERTIFICATION OF APPVION CEO. , PDC Capital Corporation, Appvion Receivables Funding I LLC, and APVN Holdings LLC, as Sellers (March 19th, 2018). Most Popular. It provides our members with the tools, techniques and stories to help promote and grow their. Court of Appeals for the 3rd Circuit U. The sale did not include assumption of Appvion's employee stock ownership plan, called an ESOP. And whether it’s new products or new business partnerships, you can read about it here. This is the Appvion company profile. construction firm will move to employee ownership Details of the employee stock ownership plan and the management stock ownership plan haven't been finalized, the company said. APPVION INC is in the Investment Advice industry in Camp Hill, PA. Pursuant to 25 Pa. , floppy disks, personal digital assistants and other hand-held peripherals, and CD-ROMs). 10 Westwood Ct, Appleton, WI 54911 is a 3 bedroom, 2 bathroom, 1,392 sqft single-family home built in 1971. 02 Oct 2017 Approximately $500 million of rated debt securities affected Toronto, October 02, 2017 -- Moody's Investors Service ("Moody's") downgraded Appvion Inc. It is notable that Appvion is wholly-owned by its employees through an Employee Stock Ownership Program. Appvion employees grapple with losing $40 million in retirement funds. Bankruptcy Court for the District of Delaware approved the sale of substantially all of the Company's assets to a group of its lenders led by Franklin Advisers, Inc. — Appvion employees who lost millions of dollars in retirement savings when the company went bankrupt last year and was sold may have an opportunity at getting their money back. Appvion employees were "fraudulently persuaded" to transfer more than $106 million out of their 401(k) accounts and into an employee stock ownership plan holding stock in Appvion's parent company, the Nov. At Green Bay Packaging, we are dedicated to the continuous improvement of our products and services. PITTSBURGH, Nov. Also, plan benefits accrued under the Plan were frozen as of April 1, 2008, with respect to Plan participants who elected to participate, effective April 1, 2008, in a “Mandatory Profit Sharing Contribution” known as the Retirement Contribution benefit under the Appleton Papers Inc. Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. Appvion also made ongoing matching contributions of PDC stock to the ESOP instead of paying cash to the employees' 401(k) accounts. This lawsuit, brought on behalf of participants and beneficiaries of the Choate Construction Company Employee Stock Ownership Plan (“ESOP”), alleges numerous violations of the Employee Retirement Income Security Act (“ERISA”) in connection with the sale of sale of Choate Construction Company stock to the ESOP for greater than fair market value. Bankruptcy Court for the District of Delaware approved the sale of substantially all of Appvion Inc. 1:18-cv-01861 in the Wisconsin Eastern District Court. Defended Against a Union Representation Election; Green v. Appvion Lenders Slam Creditors' Bid To Challenge Liens. Jan Peebles is a former Appvion employee who lost the last payout from his ESOP retirement funds when the company went bankrupt. 1: 175742: 3: 302 CERTIFICATION OF APPVION CEO. (from July 2012 to August 2015). Through the ESOP, unionized hourly employees as well as salaried personnel purchased Appvion in 2001 and continued to buy its stock for nearly 16 years, until the company filed its bankruptcy case. This page shows changes in the ownership structure by listing institutions, funds, and major shareholders that have increased their holdings or opened new positions in the last reporting period. He specialises in complex litigation and has wide-ranging experience across a full spectrum of industries and jurisdictions. A nonprofit membership organization providing unbiased information and research on broad-based employee stock plans ESOP (Employee Stock Ownership Plan) Facts. These securities will immediately -- or. See the complete profile on LinkedIn and discover Jean-Marc’s connections and jobs at similar companies. Bankruptcy Court in Delaware approved the sale of substantially all of Appvion's assets to a group of its lenders led by Franklin Advisers, Inc. Levine & Yaniel Abreu on February 19, 2020. Review this company. What Happens to Stocks That Fall to Zero?. The company also named paper industry veteran George W. 26 in federal court in Green Bay, claims that Appvion's senior management participated in a system of "fraud and concealment" in the handling of the company's Employee Stock Ownership Plan, or ESOP, up until Appvion filed for bankruptcy in October 2017. Smart Partners. View competitors, revenue, employees, website and phone number. Signed by District Judge Laurie J. Information on valuation, funding, acquisitions, investors, and executives for Appvion. 1: 175742: 3: 302 CERTIFICATION OF APPVION CEO. Appvion’s Roaring Spring location is approximately 50 miles south of University Park. Presentation topics will include:. Appvion’s flagship NCR PAPER* is the premiere worldwide carbonless paper brand » Appvion can produce all varieties and grades of carbonless papers across a comprehensive color spectrum: canary, pink, blue, green, etc. This is a single family residence. Wurtz founded George Wurtz & Associates LLC, a boutique consulting firm, in 2006 where he served as President and Chief Executive Officer from October 2011 to March 2012 and again from October 2015 to present. Appvion Lenders Slam Creditors' Bid To Challenge Liens. A webcast link and presentation slides will be available in the investor section/events & presentations of the Appvion website at www. * domtar corp (ufs) - transaction is expect. table of contents united states securities and exchange commission washington, d. These product solutions haven’t stopped with paper. ESOP companies go bankrupt much less often than non-ESOP companies, - unfortunately, Appvion is not one of them. It was sold to Franklin Advisers, Inc. --(BUSINESS WIRE)-- Domtar Corporation (UFS) today entered into an asset purchase agreement with Appvion Operations, Inc. The Appleton Papers Retirement Savings and Employee Stock Ownership Plan, which we refer to as the KSOP or the plan, includes a separate employee stock ownership plan component, which we refer to as the ESOP or the Company Stock Fund. 6 ARTICLE I Trustee Directions Authorized by ESOP Committee9. The agreement includes the coater and related equipment located only at the West Carrollton, Ohio , facility as well as a license for all corresponding. By analyzing information on thousands of single family homes for sale in Paper Mills, Pennsylvania and across the United States, we calculate home values (Zestimates) and the Zillow Home Value Price Index for Paper Mills proper, its neighborhoods and surrounding areas. Parties for Appvion Inc Retirement Savings and Employee Stock Ownership Plan v. (Appvion) in Wisconsin that recently made regional headlines for exactly that. We represented Encapsys LLC in its $208 million acquisition of the Encapsys microencapsulation division of Appvion, Inc. Hearing scheduled for 2/19/2020 at 11:30 AM at US Bankruptcy Court, 824 Market St. May 14, 2018 - Appvion, Inc. 2m debtor-in-possession (DIP) financing facility from first lien lenders. , -- Appvion will exhibit its portfolio of direct thermal products and introduce three new ones at Labelexpo Europe 2017 in Brussels, Belgium, September 25 - 28. There are 200+ professionals named "John Kyle", who use LinkedIn to exchange information, ideas, and opportunities. 's annual shares outstanding stayed the same from. - INDENTURE Dated as of November 19, 2013 Among APPVION, INC. $208 Million Acquisition of the Encapsys Microencapsulation Division of Appvion, Inc. Jan Peebles is a former Appvion employee who lost the last payout from his ESOP retirement funds when the company went bankrupt. In 2001, the company was acquired by its employees through an employee stock ownership plan (ESOP). The Company operates a pulp and paper mill in Roaring Spring, Pennsylvania and converting plants in West Carrollton, Ohio and in Appleton. If a shareholder requests a company’s Form 10-K, the company must provide a copy. Employees had voted in 2001 to transfer $107 million from 401(k) plans into the ESOP to form a. (from July 2012 to August 2015). 75 million to be paid by insurance policies covering Thalhimer and the trustee who previously oversaw the company's ESOP. Buth et al Eastern District of Wisconsin, wied-1:2018-cv-01861 Exhibit A - Supplemental Brief) Modified on 7/16/2019 motion termed see. NOTICES Meetings: Dietary Guidelines Advisory Committee, 8187-8188 2014-02939 Centers Disease Centers for Disease Control and Prevention NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals. Ideal for entertainment, retail and hospitality applications, this thermal product provides exceptional print quality, especially for barcode printing and scanning, when used with HP Indigo presses. domtar corp (ufs): * domtar agrees to purchase appvion point of sale business. Plaintiff: Alan D Halperin and Eugene I Davis: Defendant: Stout Risius Ross Inc, Kerry S Arent, Kathi P Seifert, Mark R Richards, Tami L Van Straten, Mark A Suwyn, David A Roberts, Terry M Murphy, Carl J Laurino, Stout Risius Ross LLC, Andrew F Reardon, Jane and John Does, Thomas J Ferree, Jeffrey J Fletcher, Argent Trust Company and Stephen P Carter. Stout Risius Ross is a financial advisory firm that was retained by the Trustees of the Appvion Retirement Savings and Employee Stock Ownership Plan (Appvion ESOP) to provide an annual independent valuation, as required by ERISA, of the of the stock of Paperweight Development Corp. The Appvion pension plans were taken over by a federal agency that pays basic pension benefits to workers and retirees. Department came in to answer questions from the local leaders in regards to how the bankruptcy affects outstanding ESOP and Retirement claims issues. Franklin Advisers is a large advisory firm with 437 clients and discretionary assets under management (AUM) of $423,614,418,092 (Form ADV from 2020-01-21). * domtar agrees to purchase appvion point of sale business * domtar corp (ufs) - transaction is expected to close in q2 of 2020 source text for eikon:. Challenge: Appvion Inc. Shorr Packaging Visits Capitol Hill to promote ESOPs (Employee Stock Ownership Plans) Versatility at Every Stage of Packaging We offer expert-level talent in all departments and are one of the most versatile packaging companies in the industry. Published on December 3, 2018 in News. Transaction Will Strengthen Appleton's Balance Sheet and Provide Growth Capital. The United Steelworkers strongly supports a lawsuit filed on behalf of participants in the Appvion Employee Stock Ownership Plan (ESOP) to recover the value of their investments - lost when the company was liquidated in bankruptcy court earlier this year. Search form. Appvion's flagship NCR PAPER* is the premiere worldwide carbonless paper brand » Appvion can produce all varieties and grades of carbonless papers across a comprehensive color spectrum: canary, pink, blue, green, etc. 20549       FORM 10-K/A (Amendment No. Defended Against a Union Representation Election; Green v. Through the ESOP, unionized hourly employees as well as salaried personnel purchased Appvion in 2001 and continued to buy its stock for nearly 16 years, until the company filed its bankruptcy case. Jan Peebles is a former Appvion employee who lost the last payout from his ESOP retirement funds when the company went bankrupt. Glassdoor is your resource for information about Appvion benefits and perks. Monday Morning Minute: Jan. ESOP companies go bankrupt much less often than non-ESOP companies, - unfortunately, Appvion is not one of them. A federal court has found that an employee stock ownership plan (ESOP) document's plain language makes the plan sponsor. Most people are very easy to get along with, from my experience. Workers could invest in an employee stock ownership plan since 2001. Patenting By Ownership Location (State and Country), Breakout By Organization and Domestic (U. state of Wisconsin. At Appvion, we do more than just produce high-quality paper. Aquarion Company Aquarius Platinum Ltd. District Courts, Wisconsin Eastern District. forest, paper and packaging companies based on EBITDA 2015 Top timberland owners in the U. Hearing scheduled for 2/19/2020 at 11:30 AM at US Bankruptcy Court, 824 Market St. 7, 2017 /PRNewswire/ -- Appvion will exhibit its portfolio of direct thermal products and introduce three new ones at Labelexpo Europe 2017 in Brussels, Belgium, September 25 - 28. , including financials, news, proxies, indentures, prospectuses, and credit agreements. 2, and Résiste ® LE will be accompanied by live product demos. Costs relating to the employee stock ownership plan (ESOP) are a significant use of the company's cash, ratings agency Standard & Poor's noted in a research opinion from 2016. , and 65 lb. 1:18-cv-01861 in the Wisconsin Eastern District Court. Both Appvion and PDC are S-corporations, so corporate income and losses are not taxed at the corporate level, but are instead passed through to shareholders, who are taxed based upon their allocated share of corporate income. Prior to 1866, when the first paper mill was built, Roaring Spring had been a grist mill hamlet with a country store at the intersection of two rural roads that lead to the mill near the spring. At UW Oshkosh, you'll interact with a diverse group of people, build lifelong friendships and have experiences that can change your life. has filed for Chapter 11 protection amidst a struggling paper industry and tightening liquidity constraints. We include companies that are at least 50% owned by an ESOP or other qualified plan, or by one or more other kinds of plans in which at least 50% of full-time employees are eligible to participate. No Reversion to Company. View the latest UFS stock quote and chart on MSN Money. On November 9, 2001, the employee stock ownership plan component (the "ESOP") of the Appvion Retirement Savings and Employee Stock Ownership Plan (the "KSOP") purchased all of the common stock of Debtor Paperweight Development Corporation ("PDC"). The purchase price was $208 million. Retirement Savings and Employee Stock Ownership Plan, as amended, ("ESOP" or the "Plan") in accordance with Section 8 of the Plan. On October 1, 2017, Appvion, Inc. He says 0. (See ECF No. Retirement Savings and Employee Stock Ownership Plan v. , on 13 Jun. Before retiring from full-time corporate work, Tom acted as Senior VP / Chief Financial Officer for Chase, Corporate Controller for Meredith Corporation and CFO of Appvion. One of the Fox Cities, it is situated on the Fox River, 30 miles (48 km) southwest of Green Bay and 100 miles (160 km) north of Milwaukee. Declines in value less than 50% are not covered. Aprilia SpA AptarGroup, Inc. and five affiliated debtors (collectively, the "Debtors" or the "Company") each filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the U. * domtar corp (ufs) - transaction is expect. PBGC is a federal agency created by the Employee Retirement Income Security Act of 1974 (ERISA) to protect pension benefits in private-sector defined benefit plans - the kind that typically pay a set monthly amount at retirement. The University of Wisconsin Oshkosh provides high-quality, affordable education and promotes enrichment and active learning opportunities. Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”). Assured great returns on our investment! CEO " In it for the long haul " , resigned in 2005 smiling all the way to the bank. Dive deeper with interactive charts and top stories of DOMTAR CORPORATION. We have no record of any funds or investors increasing their holdings in APPVION HLDG CORP CALL 13JUN2023 within the last quarter. We have been in the business of coating substrates over 100 years, offering the best quality and customer service in the industry. violated the Employee Retirement Income Security Act when it led a Choate Construction Co. Bankruptcy Court for the District of Delaware (the "Bankruptcy Court"). This is the third major change Appvion has gone through since the company become employee owned. 1 ☒ annual report pursuant to section 13 or 15(d) of the securities exchange act of. Facebook gives people the power to share and makes the world more open and connected. PITTSBURGH, Nov. Ideal for entertainment, retail and hospitality applications, this thermal product provides exceptional print quality, especially for barcode printing and scanning, when used with HP Indigo presses. 79 28 Tuesday, February 11, 2014 Contents Agriculture Agriculture Department See. Appvion Inc. The correspondent listed for DOCUCHECK is Appvion, Inc. The suspect was identified as 23-year-old Dylan Bradley Anderson of Ironwood – who has a long criminal history – plus is wanted downstate for home invasion and had a pair of failure to appear in court warrants issued by the Gogebic County Sheriff’s Department. Appvion is a great stepping stone for other opportunities. (NYSE:UFS). A slew of advisers and executives played up the benefits of the ESOP while downplaying its risks, overvaluing the. The Chamber publishes a bi-annual print magazine written for business, by business, about business. Appvion Lenders Slam Creditors' Bid To Challenge Liens. Insurer Must Defend ERISA Claims Despite "Statutory" Violation Exclusion. An APPVION official tells us while the company notified the ESOP investors the plan is most likely worth nothing under the proposed sale, no final determination has been made yet and won't be. FORT MILL, S. (since October 2003), SPX Corporation (since September 2015) and Appvion, Inc. The United Steelworkers strongly supports a lawsuit filed on behalf of participants in the Appvion Employee Stock Ownership Plan (ESOP) to recover the value of their investments - lost when the company was liquidated in bankruptcy court earlier this year. "There may be additional bases on which insurance coverage is precluded, in whole or in part, for the Appvion ESOP action and the Appvion Trust action under the Great American policy, based upon. 28 said the union strongly supports a lawsuit filed on behalf of participants in the Appvion Employee Stock Ownership Plan (ESOP) to recover the value of their investments -- lost when the company was liquidated in bankruptcy court earlier this year. focusing on business litigation, including ESOP litigation. The dispute is. The dwelling is located on the parcel #311068200. The one thing people tend to forget when it comes to ESPP/ESOP is that your finances are already highly dependent on the success of the company. • Chelsea has taken several cases to verdict at trial and in arbitration. Parties for Appvion Inc Retirement Savings and Employee Stock Ownership Plan v. With global breadth and local depth, Debtwire's award-winning editorial, research and legal analyst teams produce original content that helps. 's shares outstanding for the quarter that ended in. 's acquisition of Visant Holding and the issuance of an initial public offering (IPO) by. PITTSBURGH, Nov. (from July 2012 to August 2015). What is an ESOP? An Employee Stock Ownership Plan is a form of employee ownership. The ESOP Administrative Committee (the "Committee") is appointed by the Board of Directors of Appvion, Inc. 00 in assets, 2,580 active participants and a Wealthminder rating of 53. Workers could invest in an employee stock ownership plan since 2001. Through the ESOP, unionized hourly employees as well as salaried personnel purchased Appvion in 2001 and continued to buy its stock for nearly 16 years, until the company filed its bankruptcy case. SEC filings and transcripts for Appvion, Inc. The annual event featured over 70 educational sessions, including digital prepress, value st…. Appvion introduces new direct thermal receipt paper, free of chemicals, developers and leuco dye (Company news) Appvion Operations, Inc. 6%, lower compared to the same period in 2016, largely as a result of lower prices for thermal paper products as well as lower shipment volume and unfavorable product mix. Appvion Inc is a consignee 231 North Green Bay Road This address was listed as a mailing address for parcel ID 114075260 1146 East Pacific Street John Herb and Kathryn M Herb are residents. The company plans to delever its balance sheet and is seeking approval of a partially rolled-up USD 325. An APPVION official tells us while the company notified the ESOP investors the plan is most likely worth nothing under the proposed sale, no final determination has been made yet and won't be. HEARING CANCELLED. View Jean-Marc SEALELLI’S profile on LinkedIn, the world's largest professional community. 26 lawsuit claims. Department of Education. I have had some past experiences with ESOPs – Appvion is an ESOP, for example – and I have come to really value that business model. 3 Power Boiler at its Spring Mill located in Roaring Spring Borough. Dayco, a maker of engine parts for vehicles and industrial equipment, has received offers from bidders including Apollo Global and Gores Group, people familiar with the matter told Bloomberg. This plan is in the top 15% of plans for Salary Deferral and Total Plan Cost. Retirement Savings and Employee Stock Ownership Plan and Appvion Inc Retirement Savings and Employee Stock Ownership Plan: Defendant: Wendy Kaplan, Debra Fantini, Stephen Seifert, Kent Willetts, Paul J. Both Appvion and PDC are S-corporations, so corporate income and losses are not taxed at the corporate level, but are instead passed through to shareholders, who are taxed based upon their allocated share of corporate income. Aquascape, Inc. Visit PayScale to research member of the board of directors salaries by city, experience, skill, employer and more. Defended Against a Union Representation Election; Green v. USW Local 1035-03 – PCA – Lancaster, PA Assistant to the President and PCA Council Chair, Leeann Foster, spent some time with Local 1035-03 in Lancaster, PA last week. District Court for the Eastern District of Michigan. On November 9, 2001, the employee stock ownership plan component (the "ESOP") of the Appvion Retirement Savings and Employee Stock Ownership Plan (the "KSOP") purchased all of the common stock of Debtor Paperweight Development Corporation ("PDC"). It was sold to Franklin Advisers, Inc. On 11/26/2018 Appvion Inc Retirement Savings and Employee Stock Ownership Plan filed a Labor - Employee Benefit lawsuit against Buth. The employees claim that the former leaders of the company mislead them to use money from their 401 K retirement plans for stocks. Both Appvion and PDC are S-corporations, so corporate income and losses are not taxed at the corporate level, but are instead passed through to shareholders, who are taxed based upon their allocated share of corporate income. The company's debut of Dual ™ RB, Résiste ® 185-3. This plan has a BrightScope Rating of 78. Box 359, Appleton, Wisconsin 54912. Appvion’s Roaring Spring location is approximately 50 miles south of University Park. Esko, a global supplier of integrated solutions for the packaging and printing supply chain, hosted EskoWorld 2015 from June 14-16 in Scottsdale, AZ, USA. SEC filings and transcripts for Appvion, Inc. Appvion: Restructuring Frequently Asked Questions 1. to administer the Appvion, Inc. Learn about Appvion Retirement Plan, including a description from the employer, and comments and ratings provided anonymously by current and former Appvion employees. This plan is sponsored by Appvion, Inc. Paper maker Appvion taps adviser to tackle debt burden. Case Summary. , Courtroom #4, Wilmington, Delaware. The federal lawsuit was just filed on behalf of the ownership plan's. Aptech Limited Aqua Alliance Inc. The paper is acid free, elemental chlorine free (ECF), and manufactured under ISO 14001:2004-certified environmental management systems. Worked collaboratively with the company's finance organization to prepare appropriate footnote disclosures, MD&A discussions and other required 10-K disclosures. To filter your Restaurants search down to county or city, you may select your desired county on the right, or you may start a new search above for access to more listings for sale. Paper, namely, colored paper sheets and rolls. Appvion Inc Retirement Savings and Employee Stock Ownership Plan v. Appvion has a mill in Roaring Spring. Appleton changed its name to Appvion, Inc. ("Appleton") and Hicks Acquisition. Appvion, Inc. But if company A raises its dividend constantly faster than company B, company A's future dividend yield might be much higher than Company B's even if their yields are the same now and their stock prices do not change. Approved grades are PTI’s “PTI 351 14N,” and Appvion’s “Resiste 800-5. The stock is now worth nothing. BANK NATIONAL ASSOCIATION, as Trustee and Collateral Agent 9. The number of units to be earned is calculated using the established dollar value of the compensation divided by the fair market value of one share of PDC common stock as established under the terms of the ESOP as of the prior December 31 and June 30, respectively. The correspondent listed for DOCUCHECK is Appvion, Inc. Rosen is quoted in WSJ Pro Bankruptcy regarding the bankruptcy proceedings of specialty paper manufacturer Appvion Inc. Moody's downgrades Appvion's PDR to D-PD on Chapter 11 filing. Code, but not liable for violating parts (a)(1)(B) or (b) of that section. The company plans to delever its balance sheet and is seeking approval of a partially rolled-up USD 325. manufacturing activity expanded in October, but at a slower rate than reported in September according to new data released this morning by the Institute for Supply Management. GREEN BAY (WLUK) – Members of the Appvion employee stock ownership plan – which lost all of its value when the company declared bankruptcy – filed suit in federal court, seeking total. Appvion is the largest producer of thermal paper. APPVION INC is in the Investment Advice industry in Appleton, WI. Description. ESOP companies go bankrupt much less often than non-ESOP companies, - unfortunately, Appvion is not one of them. Left the employees ESOP in a sinking ship. (100 Paper Mill Road, Roaring Spring, PA 16673). Appvion filed for bankruptcy and was sold to a group of lenders earlier this year. Director of Franklin Electric Co. LEGAL ANALYSIS EXECUTIVE SUMMARY Appvion, Inc. ST Paper and ST Tissue are minority owned tissue mills located in hard working, rural communities that produce bath tissue, paper towels, and napkins for the North American commercial market. Wisdom for the mature ESOP: Culture, concerns, succession and exit strategies. The United Steelworkers strongly supports a lawsuit filed on behalf of participants in the Appvion Employee Stock Ownership Plan (ESOP) to recover the value of their investments - lost when the company was liquidated in bankruptcy court earlier this year. The Employee Benefit Research Institute, a non-profit research organization, has studied these. of 825 EAST WISCONSIN AVENUE, PO Box 359, Law Department, Appleton, WI 54912-0359. View Kerry Arent's business profile as Senior VP, Human Resources at Appvion Inc. scopesupplychain. To filter your Restaurants search down to county or city, you may select your desired county on the right, or you may start a new search above for access to more listings for sale. The company plans to delever its balance sheet and is seeking approval of a partially rolled-up USD 325. Graphic Arts Advisors, LLC and the authors make no representation that the information presented in this website is correct. I see that happen maybe one in every few hundred cases. Beneficiaries of employee share plans call for financial wellness programs — which would provide education, tools and resources to help with their overall financial health. Earnings release conference call Appvion will host a conference call to discuss its first quarter 2017 results on Tuesday, May 9, 2017, at 11:00 a. Appvion is a great stepping stone for other opportunities. • Chelsea has taken several cases to verdict at trial and in arbitration. ("Appvion"), North America's largest producer of direct thermal paper, is pleased to introduce the revolutionary CleanSlate™ POS receipt paper. table of contents united states securities and exchange commission washington, d. Electronic messages, whether authorized or unauthorized, constitutes consent to the retrieval and disclosure of information stored within the system, including information stored locally on the hard drive or other media in use with this unit (e. The correspondent listed for DOCUCHECK is Appvion, Inc. Wurtz III as its new president, chief executive officer and board chairman. Get invited at www. 3, 2017 /PRNewswire/ — Appvion, Inc. Appvion is also pleased to announce that its 7 mil HP Indigo-compatible direct thermal technology has been certified for HP Indigo printing. eliminating ESOP repayment obligations and deleveraging your balance sheet. SEC Accession No. But if company A raises its dividend constantly faster than company B, company A's future dividend yield might be much higher than Company B's even if their yields are the same now and their stock prices do not change.